American Tower Corporation $AMT Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC significantly reduced its stake in American Tower Corporation by 91.7%, now holding only 8,917 shares after selling 98,933 shares in the first quarter.
• American Tower reported $2.63 billion in revenue for the quarter, exceeding analysts' expectations, but saw a 9.4% year-over-year decline in revenue.
• Several analysts have revised their price targets for American Tower, with JPMorgan Chase raising its target from $250.00 to $255.00, while HSBC downgraded it from a "buy" to a "hold" rating with a target of $235.00.

Jump Financial LLC trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 91.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,917 shares of the real estate investment trust's stock after selling 98,933 shares during the period. Jump Financial LLC's holdings in American Tower were worth $1,940,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMT. North Capital Inc. acquired a new stake in American Tower during the 1st quarter valued at approximately $25,000. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after buying an additional 60 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the first quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC grew its holdings in American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 109 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMT. Royal Bank Of Canada upped their target price on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group upped their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company dropped their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $244.73.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

American Tower Stock Performance

Shares of AMT stock traded up $1.14 during trading hours on Monday, reaching $203.70. The stock had a trading volume of 2,618,098 shares, compared to its average volume of 2,326,875. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day simple moving average of $215.77 and a 200-day simple moving average of $213.34. The firm has a market capitalization of $95.38 billion, a PE ratio of 74.07, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period last year, the firm earned $2.79 EPS. The firm's revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.